Kunlun Energy (OTCMKTS:KLYCY) Sees Large Growth in Short Interest

Key Points

• Short interest in Kunlun Energy increased by 50% in September, totaling 300 shares, indicating growing investor concern.
• The company's stock saw a 4.5% increase on a recent trading day, reaching $8.77, while it has a twelve-month trading range of $8.39 to $11.69.
• Kunlun Energy announced an increase in its dividend to $0.185 per share, with a significant yield of 367.0%, payable to shareholders on November 7th.

Kunlun Energy (OTCMKTS:KLYCY - Get Free Report) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 300 shares, an increase of 50.0% from the August 31st total of 200 shares. Based on an average daily volume of 400 shares, the days-to-cover ratio is presently 0.8 days. Based on an average daily volume of 400 shares, the days-to-cover ratio is presently 0.8 days.

Kunlun Energy Stock Up 4.5%

Shares of Kunlun Energy stock traded up $0.38 during trading on Tuesday, reaching $8.77. 479 shares of the company were exchanged, compared to its average volume of 639. Kunlun Energy has a twelve month low of $8.39 and a twelve month high of $11.69. The business has a 50-day moving average price of $9.45 and a 200-day moving average price of $9.73.

Kunlun Energy Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, November 7th. Shareholders of record on Thursday, September 4th will be paid a $0.185 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from Kunlun Energy's previous dividend of $0.16. This represents a yield of 367.0%.

Analyst Upgrades and Downgrades

Separately, Zacks Research downgraded Kunlun Energy from a "hold" rating to a "strong sell" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Sell".

About Kunlun Energy

Kunlun Energy Company Limited, an investment holding company, engages in the exploration, development, production, and sale of crude oil and natural gas. It operates through four segments: Natural Gas Sales; Sales of Liquefied Petroleum Gas (LPG); Liquefied Natural Gas (LNG) Processing and Terminal; and Exploration and Production.

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